There will be about 46 earnings reports today. We were so consumed with the market imploding last quarter we really were not caught up in the earnings reports that much. This quarter should be different as the markets seems to have found its balance. Citigroup is dumping $12 billion in debt off to Blackstone and Apollo Group at a 10% haircut. We are in a recession, the question is, have we or are we in a discounting process. I think we are in discounting/bottoming process here, at least until another shoe drops. Credit cards and auto loans anyone?
About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
2 comments:
hey buddy. it's been a while. you feeling lonely over there in bear town? I am starting to get a little bearish here again. this rally might have seen it's highs for now.
hey stewie
no, i'm loving it. GRMN has been a great short that i covered FOR 5 and i had 6 points short in BLK today but didnt take it as i've been running around-still a quirky market and i dont like the financials and am short MOO-the bad ain't over yet stewie
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